A Collection Executive recovers outstanding debts by contacting customers, negotiating payment plans, resolving disputes, and maintaining accurate records, focusing on meeting targets while preserving client relationships through strong communication, problem-solving, and adherence to legal regulations, often using collection software to manage accounts.
Responsibilities:
Debt Recovery:
Contact clients via phone, email, or visits for overdue payments, negotiating terms and settlements.
Customer Relations:
Handle queries, resolve payment disputes, and maintain positive relationships with debtors.
Record Keeping:
Accurately log all interactions, update account statuses, and process payments.
Reporting:
Provide regular updates on collection progress, outstanding debts, and recovery rates to management.
Compliance:
Ensure all collection activities adhere to company policies, laws, and regulations.
Strategy:
Work with finance teams to develop faster collection strategies and escalate complex cases.